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The gold market in the Kingdom of Saudi Arabia recorded a slight decline in prices today, influenced by the drop in the global price of an ounce to $3,364, equivalent to 12,842 Saudi riyals, a decrease of $19.23 from the previous day's close.

This decline reflects movements in global markets that have seen pressure on the yellow metal due to the rise of the US dollar and increasing expectations of interest rate stabilization by the US Federal Reserve, which has temporarily reduced gold's appeal as a safe haven.

Local Market:

The demand for small and medium-sized bullion in the Saudi market has seen a relative increase from individuals and investors looking to buy at dip points, while large bullion maintained its pricing stability.

Here are the main prices today in Saudi riyals and US dollars:

• 1-gram bullion:

446.14 riyals / 118.97 dollars

• 2.5-gram bullion:

1,064.65 riyals / 283.91 dollars

• 5-gram bullion:

2,109.03 riyals / 562.41 dollars

• 10-gram bullion:

4,169.39 riyals / 1,111.84 dollars

• 20-gram bullion:

8,282.00 riyals / 2,208.53 dollars

• Half-ounce bullion:

6,452.57 riyals / 1,720.69 dollars

• Full ounce bullion:

12,842.07 riyals / 3,424.55 dollars

• 50-gram bullion:

20,563.04 riyals / 5,483.48 dollars

• 100-gram bullion:

41,044.97 riyals / 10,945.32 dollars

• 1-kilogram bullion:

408,421.75 riyals / 108,912.47 dollars

Balance of the Saudi Market:

Despite being affected by global prices, the Saudi market enjoys a high degree of relative stability, thanks to a flexible pricing structure that keeps pace with international market movements and a variety of bullion categories offered, meeting the needs of different segments of investors and consumers.

It is expected that the volatility will continue in the coming days, especially with the upcoming release of new US economic data that may reshape expectations for interest rates and inflation.